| 1 |
Persons Eligible |
|
| a) |
Individuals (sole proprietor /partnership/ company) |
- Any Indian National |
|
|
- Must possess work order from any govt. dept./ semi-govt dept./ autonomous body |
|
|
- Project should be in the area of operation of the bank |
| b) |
Affiliated Society |
- Must have bank affiliation |
|
|
- Business / Trading activity should be in the area of operation of the bank |
| 2 |
Purpose of Loan |
- For completion of work awarded by any govt. dept./ semi-govt dept./ autonomous body |
| 3 |
Maximum Limit of Loan |
- 60% of Bill Amount ( Value of Work Order less Deductibles viz. discount offered, ST/IT value, any dept. supply amount etc.) |
| 4 |
Service Charge |
- 1% of the Loan Amount. |
| 5 |
Rate of Interest |
- Varies from time to time (as per interest rate circular) (to be calculated on quarterly compound basis) |
| 6 |
Period of Repayment |
- within 31st March of next year |
| 7 |
Security |
|
| a) |
Individuals (sole proprietor /partnership/ company) |
- 25% Cash Security as FD in JCCB Ltd. |
|
|
OR |
|
|
35% in the form of NSC/KVP or LIC (surrender value) |
|
|
- 100% collateral securiy in the form of mortgage of Land / shop / building / factory etc. |
|
|
- Hypothecation of Stock |
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- Life Insurance of the applicant |
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- General Insurance of the business. |
| b) |
Affiliated Society |
|
|
Upto Rs.25.00 lakhs |
- 10% of Loan sanctioned as cash security |
|
Above Rs.25.00 lakhs |
- 10% of Loan sanctioned as cash security |
|
|
- 90% of Loan sanctioned as Collateral Security |
